Question 23 (1 point) Inventory turnover ratio evaluates: A company's ability to move inventory Company's inventory purchasing efficiency Both a and b None of the above Question 21 (1 point) After analysing the following amounts Opening Stock $14,000 Sales $ 20,000 Closing Stock $10,000 Purchases $ 5,000, the cost of goods sold for the business is: $9.000 $49,000 $29,000 $19,000 Question 18 (1 point) Access Bakery Pty Ltd began a new business on the 1st May 2022 and had the following transactions for the week 1st May - 7th May 2022. May 1st Owner deposited $10,000 into business bank account 2nd Purchased stock on credit for $2,200 (including GST) 3rd Paid cash for supplies $4,000 (GST free) 4th Customer cash sales received $1,500 5th Paid $1,000 for stock purchased on the 2nd May 6th Received an electricity bill for $200 7th Paid wages of $350 What is the balance of the bank account on the 7th May 2022 $4,350 $3,650 $3,750 $6,150 Question 19 (1 point)